Progressive Planet Announces Q2 Revenue and Net Income

Executive Summary

• Q2 2025 net income rose to $971,895, up from $623,498 a year earlier.
• EBITDA increased 60% YoY to $1,446,716; revenue fell 9.2% to $4,964,201.
• Order backlog surged 138% YoY to $1,389,735, reflecting strong purchase‑order activity and the launch of two new SKUs.

Key Details

• Revenue: $4,964,201 (−9.2% vs. Q2 2024).
• Net Income: $971,895 (↑ 55.8% YoY).
• EBITDA: $1,446,716 (↑ 60% YoY).
• Gross Margin: 38.1% (vs. 38.6% in Q2 2024).
• Six‑Month Revenue: $10,878,388 vs. $10,140,339 prior six months.
• Order Backlog: $1,389,735, a 138% increase from $583,679 in 2024; backlog typically converts to sales within six weeks.
• Purchase Orders (Oct 2025): >$2.7 M, the highest monthly total since the February 2022 acquisition of Absorbent Products.
• Operational Update: Temporary shutdown of three of four production lines in Q2 for robotic palletizer installation; lines back online with no further shutdowns expected in Q3 (ending Jan 31 2026).
• New SKUs: Introduction of two new Pure DE brand products, now stocked in >2,400 U.S. retail locations.
• Subsequent Event – Asset Write‑down: Mine lease on Z1 Zeolite Quarry expired; company will write down the full carrying value of $1,209,200 in Q3. Lease renewal cost estimate exceeded $100,000 and was deemed unnecessary after recent acquisitions (Absorbent Products 2022, Ferguson Creek Pozzolan 2025).
• Management Commentary: CEO Steve Harpur highlighted the successful shutdown/palletizer installation, improved backlog normalization, and expanded retail placement of new products.

Notable Quotes

“Our second quarter was a time of transition as we went through a planned shutdown to install a new robotic palletizer,” – Steve Harpur, CEO
“The shutdown was seamless, and all lines are in production again… We have reduced our backlog to more normal levels in Q3…” – Steve Harpur, CEO